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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: David W. Taylor who wrote (83990)10/23/2003 1:30:56 PM
From: Hawkmoon  Respond to of 99985
 
All of the daytraders, who are pumping their favorite techs, will soon be dumpling them like crazy.

Possibly, but so long as the Nasdaq doesn't violate 1600 for more than a month, then the upward trend would seem pretty confident..

And on the quarterly chart, a nice retreat followed by strong support at 1600 could set the Nasdaq up for a reverse head and shoulders formation sometime next year:

bigcharts.marketwatch.com

That's something I would like to participate in.. hehe.

Hawk



To: David W. Taylor who wrote (83990)10/23/2003 9:48:25 PM
From: Mathemagician  Respond to of 99985
 
All of the daytraders, who are pumping their favorite techs, will soon be dumpling them like crazy.

Correct me if I'm wrong, but don't daytraders close their positions at the end of each day?

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